By Alessandro Albano
Investing.com – Another blow for China Evergrande (HK :), which meanwhile gains 4.1% in Hong Kong. The rating agency Fitch announced earlier that it had downgraded the brick company, and its subsidiaries Hengda Real Estate Group and Tianjin Holdings (HK :), to “Restricted Default” from the previous “C”.
The downgrade, reads a note from Fitch, “reflects the non-payment of coupons maturing on November 6 in reference to the offshore bonds of $ 645 million at 13% of Tianji, and the bonds with a yield of 13.75% of 590 million. of dollars past due beyond the grace period of December 6th. “
Concerns about the possible collapse of Evergrande (HK